International Paper (NYSE:IP) is Hill City Capital LP’s 9th Largest Position

Hill City Capital LP increased its stake in International Paper (NYSE:IP) by 287.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,550,000 shares of the basic materials company’s stock after buying an additional 1,150,000 shares during the quarter. International Paper makes up 5.0% of Hill City Capital LP’s portfolio, making the stock its 9th biggest position. Hill City Capital LP’s holdings in International Paper were worth $75,718,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Aptus Capital Advisors LLC lifted its stake in shares of International Paper by 15.1% in the third quarter. Aptus Capital Advisors LLC now owns 5,972 shares of the basic materials company’s stock worth $292,000 after buying an additional 785 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in International Paper by 5.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 937,324 shares of the basic materials company’s stock worth $45,788,000 after acquiring an additional 49,125 shares during the last quarter. Curi RMB Capital LLC bought a new position in International Paper in the 3rd quarter valued at approximately $4,870,000. Diamond Hill Capital Management Inc. boosted its stake in International Paper by 125.1% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 4,235,846 shares of the basic materials company’s stock valued at $206,921,000 after purchasing an additional 2,354,341 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in International Paper by 29.6% during the 3rd quarter. Raymond James & Associates now owns 321,468 shares of the basic materials company’s stock valued at $15,704,000 after purchasing an additional 73,367 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kathryn D. Sullivan sold 600 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $58.39, for a total value of $35,034.00. Following the transaction, the director now owns 37,145 shares of the company’s stock, valued at approximately $2,168,896.55. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Holly G. Goughnour sold 5,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $47.22, for a total transaction of $236,100.00. Following the transaction, the vice president now directly owns 16,788 shares of the company’s stock, valued at $792,729.36. The trade was a 22.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,040 shares of company stock worth $540,104. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IP. BNP Paribas downgraded International Paper from a “neutral” rating to an “underperform” rating and set a $48.20 price target on the stock. in a report on Wednesday, November 13th. Argus upgraded shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, August 14th. Royal Bank of Canada lifted their price target on shares of International Paper from $56.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Truist Financial restated a “buy” rating and issued a $61.00 target price (up previously from $57.00) on shares of International Paper in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.54.

International Paper Stock Down 0.6 %

NYSE IP opened at $58.46 on Tuesday. International Paper has a 52 week low of $32.70 and a 52 week high of $60.36. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $20.31 billion, a P/E ratio of 49.96 and a beta of 1.02. The stock’s 50-day moving average price is $52.59 and its 200-day moving average price is $48.21.

International Paper (NYSE:IP) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.70 billion. International Paper had a net margin of 2.25% and a return on equity of 6.49%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 EPS. On average, equities research analysts predict that International Paper will post 1.22 earnings per share for the current year.

International Paper Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s dividend payout ratio is currently 158.12%.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.